Meanwhile, the S&P BSE Sensex was up 129.06 points or 0.67% at 19,306.82.
On BSE, 87,000 shares were traded in the counter as against average daily volume of 2.79 lakh shares in the past one quarter.
The stock hit a high of Rs 85.75 and a low of Rs 82.70 so far during the day. The stock had hit a 52-week high of Rs 113.20 on 5 December 2012. The stock had hit a 52-week low of Rs 77.25 on 13 June 2013.
The stock had underperformed the market over the past one month till 3 July 2013, sliding 6.46% compared with the Sensex's 2.21% fall. The scrip had also underperformed the market in past one quarter, declining 14.11% as against Sensex's 2% rise.
The large-cap company has equity capital of Rs 237.31 crore. Face value per share is Re 1.
Shares of Tata Power Company had declined 6.67% in two trading sessions to settle at Rs 82.50 on Wednesday, 3 July 2013, from a recent high of Rs 88.40 on 1 July 2013 triggered by the credit rating agency Moody's reportedly downgraded the outlook on the company to negative from stable. The negative outlook reflects renewed uncertainties related to the material covenant breaches on bank debt associated with Tata Power Company's Gujarat-based Mundra Ultra Mega Power Project which is being executed under its fully owned subsidiary, Coastal Gujarat Power or CGPL, said Ray Tay, a Moody's Associate Vice President and Analyst.
Tata Power Company on 2 July 2013 said it has successfully achieved the financial closure for its 95 megawatts (MW) Tsitsikamma wind farm project in South Africa joint venture (JV) company with Exxaro, Cennergi (Pty). Tata Power Company had recently also announced the successful financial closure of its 135 MW Amakhala Emoyeni wind farm project in South Africa. Cennergi is a 50:50 JV between South Africa's Exxaro Resources and Tata Power Company.
Tata Power Company reported consolidated net profit of Rs 181.36 crore in Q4 March 2013, as against net loss of Rs 628.75 crore in Q4 March 2012. Net sales rose 25.5% to Rs 8997.31 crore in Q4 March 2013 over Q4 March 2012.
Tata Power Company is India's largest integrated power company with a significant international presence. The company has an installed generation capacity of 8,521 MW in India and a presence in all the segments of the power sector viz generation (thermal, hydro, solar and wind), transmission, distribution and trading.
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